Not Just Apple, How Microsoft Sidestepped Billions In State Taxes 595
reifman writes "Apple's not the only company to save billions in taxes through Nevada as The New York Times reported yesterday. Here's how Microsoft's saved $4.37 billion in tax payments to Washington State and how it's led indirectly to $4 billion in K-12 and Higher Education cuts since 2008. 18% of University of Washington freshman are now foreigners (because they pay more) up from 2% six years ago. Washington State ranks 47th nationally in 18-24 yo college enrollment and 48th in K-12 class size. This hasn't stopped the architect of the company's Nevada tax dodge from writing in The Seattle Times: 'it's [Washington] state's paramount duty to provide for the public education of all children. Unfortunately, steady declines in public resources now threaten our ability to live up to that commitment.' Yes, indeed."
Largest corps dodging taxes? How shocking.... (Score:5, Funny)
I'm shocked....shocked, I say! Billion dollar companies hiring lawyers to create, and then exploit tax loopholes for their own (and their shareholders') benefit? There ought to be a law...oh wait!
Re:As a University of Washington student... (Score:2, Funny)
I am appalled that Microsoft is to blame for the current state of our university.
Wow.
You're as gullible as a FOX or NBC news viewer. You bought-into the politicians' propaganda hook, line, and sinker like a fish. The only ones to blame, are not Microsoft who followed the tax laws, but the poltiicians who failed to REWRITE the tax laws such that MS and other corporations would have to pay on all their income (since they reside in washington).
Well this simply won't do. This is what happens when the lemmings go off their meds and start thinking for themselves. We simply can't have the likes of you questioning the order of things. No siree, bob.
Now, off to re-education camp with you!
[Btw: If you're reading this, you're in the 1%.]
Re:As a University of Washington student... (Score:5, Funny)
The guy is bragging himself up as a self-taught PHP programmer. That ought to tell you all you need to know. Belief that he actual makes $150k per year is optional.
Re:Same thing that Apple owes to California... (Score:4, Funny)
A Nevada C corporation costs about $475 a year including renewal fee, resident agent, PO box, and business license.
So, everyone everywhere in the USA should incorporate themselves and their family, register themselves as a business in Nevada and the playing field is level again?
I'm not sure that it would work QUITE like that, nor that the IRS would simply shrug their shoulders "We are powerless, alas!" and just let it slide.
I mean... with all due respect, somehow I doubt that you're the first person who came up with that idea and yet it does not seem as if everyone is using it.
I'm guessing that it's cause they are all dirty commie pinko socialist tax-paying bastards.
Re:what about slashdot? (Score:5, Funny)
Are you assuming slashdot still brings in enough traffic to make money?
Instead of attempting to name and shame companies, perhaps instead we should try to find a mega-corp that actually does fairly and honestly pay its full tax bill. How about a bit of positive reporting?